Blockchain Companies Still in Learning Mode Says Security Innovation Research

Companies considering the Blockchain technology adoption may have to rethink for now as Security Innovation, a pioneer in software security assessment and training has said Blockchain competency levels are still low.

The company said Blockchain technology companies are still in learning mode. It made this known following the release of the report of its new research. It noted that while Blockchain is a promising technology, organizations realize there are risk implications that pose new challenges for security and business teams alike.

The company has been researching Blockchain for years, and offers a variety of services and solutions to help companies as they evaluate and begin working with it.

Report Core Findings

In April, Security Innovation released its free Blockchain CTF “learn by doing” platform for Smart Contracts. Analysis of user engagement reveals:

  • ~50% percent of users were able to solve more than one of the seven challenges presented;
  • Only 10 percent of users scored 4,000 points – the maximum available.
  • The average score was approximately 500 points, or 12.5 percent of the maximum;

Each user was able to conduct multiple transactions to smart contracts on the testnet Blockchain; and Challenges that require users to deploy their own smart contracts were the most difficult for users.

The company said many professionals who have used its Blockchain CTF platform are having a difficult time identifying security issues. It said this isn’t uncommon with a new and complex technology with limited documentation and accepted best practices

How Security Innovation is Helping

To help teams better prepare for the security challenges of both current and future technologies, Security Innovation offers application cyber ranges for the most authentic way to hone security skills.

The company also helps by organizing:

Blockchain Workshops – led by Blockchain experts, these half day sessions are ideal for technical executives who need expert guidance on security and business implications of Blockchain

Blockchain Technical Trainings – These two-day courses examine methodologies used when developing smart contracts for Blockchain enabled Decentralized Applications (DApps), and leverage a “capture the flag” platform for practical simulation

Technical Assessments – Security Innovation experts provide organizations with Smart Contract Code Review, Integration Testing, and Blockchain Design and Code Review.

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